Coping with International Capital Flows

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Private capital flows to developing countries have increased dramatically in the 1990s. The authors identify key concerns about the sustainability and volatility of these flows and make a number of recommendations for national macroeconomic management including improving crisis prevention measures.



Insolvency and Sovereign Debt Workouts

The second kind of financial problem which a sovereign government may encounter is insolvency. This involves the inability to service debts, because of overborrowing, or because of the worsening of external circumstances in unexpected ways. But sovereign debtors are not strictly analogous to corporate debtors.


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